Board of the Pension Protection Fund Purchases Shares of 6,000 Lam Research Co. (NASDAQ:LRCX)

Board of the Pension Protection Fund acquired a new position in Lam Research Co. (NASDAQ:LRCX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 6,000 shares of the semiconductor company’s stock, valued at approximately $433,000.

Several other hedge funds have also recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC grew its holdings in shares of Lam Research by 1,093.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 39,369 shares of the semiconductor company’s stock worth $2,844,000 after acquiring an additional 36,070 shares during the period. Crestmont Private Wealth LLC boosted its stake in Lam Research by 1,136.6% during the fourth quarter. Crestmont Private Wealth LLC now owns 3,314 shares of the semiconductor company’s stock worth $239,000 after acquiring an additional 3,046 shares in the last quarter. Oak Thistle LLC purchased a new stake in Lam Research in the fourth quarter worth about $528,000. SeaCrest Wealth Management LLC lifted its holdings in shares of Lam Research by 906.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 35,644 shares of the semiconductor company’s stock valued at $2,575,000 after purchasing an additional 32,103 shares during the last quarter. Finally, Fiduciary Financial Group LLC bought a new stake in shares of Lam Research in the 4th quarter worth approximately $312,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Lam Research Price Performance

NASDAQ LRCX opened at $75.06 on Wednesday. The company has a 50-day moving average price of $74.70 and a 200-day moving average price of $81.22. Lam Research Co. has a 52 week low of $68.87 and a 52 week high of $113.00. The company has a quick ratio of 1.74, a current ratio of 2.53 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $96.58 billion, a P/E ratio of 24.26, a PEG ratio of 1.22 and a beta of 1.45.

Lam Research (NASDAQ:LRCX) last announced its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Lam Research had a net margin of 26.02% and a return on equity of 50.60%. The firm’s revenue was up 19.7% on a year-over-year basis. During the same period in the prior year, the company earned $6.85 earnings per share. Equities research analysts anticipate that Lam Research Co. will post 3.5 earnings per share for the current year.

Lam Research Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, December 11th. Lam Research’s dividend payout ratio is presently 29.77%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research report on Thursday, October 24th. Morgan Stanley raised their price target on Lam Research from $76.00 to $78.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. BNP Paribas upgraded shares of Lam Research to a “hold” rating in a research note on Thursday, October 24th. StockNews.com lowered shares of Lam Research from a “buy” rating to a “hold” rating in a research note on Friday, October 11th. Finally, Sanford C. Bernstein dropped their target price on shares of Lam Research from $95.00 to $85.00 and set a “market perform” rating on the stock in a research note on Friday, November 29th. Eight research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.59.

Lam Research Company Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.